Turkish PM: BTK railway project to be completed in 2016

The Baku-Tbilisi-Kars (BTK) railway project will be completed in 2016, Turkish Prime Minister Binali Yildirim told reporters in Baku on June 3rd, Trend reports.

He said the project is important for both Turkey and Azerbaijan.

"The BTK railway will link Asia and Europe," Yildirim added.

The BTK railway is being constructed on the basis of the Georgian-Azerbaijani-Turkish intergovernmental agreement.

Azerbaijan has allocated a $775-million loan for the construction of the railway's Georgian section.

The State Oil Fund of Azerbaijan (SOFAZ) finances the project in accordance with the Azerbaijani president's decree 'On implementation of the Baku-Tbilisi-Kars project activities', dated February 21st, 2007.